Johnson City, Tenn., January 12, 2012 - NN, Inc.
(Nasdaq: NNBR)today announced that Jim
Dorton, Senior Vice President, will assume the additional
responsibility of General Manager of the
Company's Plastic and Rubber business unit. The
Plastic and Rubber business unit is comprised of the
Industrial Molding and Delta Rubber operations and had
revenues of $39.1 million in 2010.
Mr. Dorton joined NN in June of 2005 as Vice
President, CFO and Corporate Development. He was promoted
to Senior Vice President in May 2010. In addition to his
new responsibilities, he will continue in his current role
as Senior Vice President, Corporate Development and Chief
Financial Officer.
Mr. Roderick R. Baty, Chairman and Chief Executive
Officer commented, "I am pleased to announce Jim's
additional management responsibilities of heading up our
Plastic and Rubber business unit. At the time of Jim's
promotion to Senior Vice President in 2010, we stated there
was an expectation he would assume additional management
responsibilities at the senior most levels of the
company. These additional operational management
responsibilities are consistent with that direction and
should strengthen our organization's ability to serve
the needs of our global customers moving
forward."
NN, Inc. manufacturers and supplies high
precision metal bearing components, industrial plastic and
rubber products and precision metal components to a variety
of end markets on a global basis. Headquartered in
Johnson City, Tennessee, NN has 10 manufacturing plants in
the United States, Western Europe, Eastern Europe and
China. NN, Inc. had sales of US $365 million in
2010.
Except for specific historical information, many
of the matters discussed in this press release may express
or imply projections of revenues or expenditures,
statements of plans and objectives or future operations or
statements of future economic performance. These, and
similar statements, are forward-looking statements
concerning matters that involve risks, uncertainties and
other factors which may cause the actual performance of NN,
Inc. and its subsidiaries to differ materially from those
expressed or implied by this discussion. All
forward-looking information is provided by the Company
pursuant to the safe harbor established under the Private
Securities Litigation Reform Act of 1995 and should be
evaluated in the context of these factors. Forward-looking
statements generally can be identified by the use of
forward-looking terminology such as
"assumptions", "target",
"guidance", "outlook",
"plans", "projection", "may",
"will", "would", "expect",
"intend", "estimate",
"anticipate", "believe",
"potential" or "continue" (or the
negative or other derivatives of each of these terms) or
similar terminology. Factors which could materially affect
actual results include, but are not limited to: general
economic conditions and economic conditions in the
industrial sector, inventory levels, regulatory compliance
costs and the Company's ability to manage these costs,
start-up costs for new operations, debt reduction,
competitive influences, risks that current customers will
commence or increase captive production, risks of capacity
underutilization, quality issues, availability and price of
raw materials, currency and other risks associated with
international trade, the Company's dependence on
certain major customers, the successful implementation of
the global growth plan including development of new
products and consummation of potential acquisitions and
other risk factors and cautionary statements listed from
time to time in the Company's periodic reports filed
with the Securities and Exchange Commission, including, but
not limited to, the Company's Annual Report on 10-K for
the fiscal year ended December 31, 2010.